Upstream Bio vs Vistagen Therapeutics
Upstream Bio is the larger business, with $2.9m of revenue in fiscal 2025 against $1.3m for Vistagen Therapeutics (2.2 times as much). Vistagen Therapeutics grew faster (161.1% against 20.4%). Upstream Bio kept more of each dollar of sales as profit: a net margin of -5026.0% against -5491.3%.
| Latest fiscal year | Upstream BioUPB, 2025 | Vistagen TherapeuticsVTGN, 2026 |
|---|---|---|
| Revenue | $2.9m | $1.3m |
| Revenue growth | 20.4% | 161.1% |
| Net income | −$143m | −$69.7m |
| Operating margin | -5618.8% | — |
| Net margin | -5026.0% | -5491.3% |
| Return on equity | -35.4% | -131.6% |
| Free cash flow | −$133m | −$66.4m |
| Cash | $102m | $30.8m |
| Total debt | $0 | $96,000 |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 75 | 41 |
| Market value | $182m | $7.3m |
| Price vs our value range | — | — |
| Moat score | — | 10 (Weak) |
| Insider trades, 12 months | 0 buys, 15 sales | 0 buys, 0 sales |